Textual Amendments
F1Pt. 4A inserted (11.11.1999 for specified purposes, 1.12.2000 in so far as not already in force) by Welfare Reform and Pensions Act 1999 (c. 30), ss. 37, 89(5)(a); S.I. 2000/1047, art. 2(2)(d), Sch. Pt. 4
Modifications etc. (not altering text)
C1Pt. 4A Ch. 2 applied (with retrospective effect from 1.12.2000) by The National Health Service Superannuation Scheme (Scotland) (Additional Voluntary Contributions) Regulations 1998 (S.I. 1998/1451), Sch. 2 para. 5 (as inserted by S.S.I. 2001/465, reg. 1(2), sch. 2 para. 6)
[F2(1)In the case of a salary related occupational pension scheme, the power to give a transfer notice may only be exercised if—
(a)the member has been provided with a statement under section 101H, and
(b)not more than 3 months have passed since the date by reference to which the amount shown in the statement is determined.
(2)The power to give a transfer notice may not be exercised in the case of an occupational pension scheme if—
(a)there is less than a year to go until the member reaches normal benefit age, or
(b)the pension to which the member is entitled by virtue of his pension credit rights, or benefit in lieu of that pension, or any part of it has become payable.
(3)Where an eligible member of a qualifying scheme—
(a)is entitled to make an application under section 95 to the trustees or managers of the scheme, or
(b)would be entitled to do so, but for the fact that he has not received a statement under section 93A in respect of which the guarantee date is sufficiently recent,
he may not, if the scheme so provides, exercise the power to give them a transfer notice unless he also makes an application to them under section 95.
(4)The power to give a transfer notice may not be exercised if a previous transfer notice given by the member to the trustees or managers of the scheme is outstanding.]
[F2(1)An eligible member may not give a transfer notice in relation to a category of benefits if a crystallisation event has occurred in relation to any of the member's pension credit rights to benefits in that category.
(2)An eligible member may give a transfer notice in relation to a category of benefits other than money purchase benefits only if—
(a)the member has been provided with a statement under section 101H in relation to benefits in that category, and
(b)not more than 3 months have passed since the date by reference to which the amount shown in the statement is determined.
(3)An eligible member may not give a transfer notice in relation to benefits other than flexible benefits if there is less than one year to go until the member reaches normal benefit age.
(4)Where an eligible member of a qualifying scheme—
(a)is entitled to give a transfer notice in relation to any category of benefits, and
(b)is also entitled to make an application to the trustees or managers of the scheme under section 95(1) in relation to benefits in the same category (or would be entitled to do so but for section 95(1A)(a)),
the member may not, if the scheme so provides, give a transfer notice in relation to that category of benefits without also making an application under section 95(1) in relation to that category of benefits.
(5)A transfer notice may not be given if a previous transfer notice given by the member to the trustees or managers of the scheme is outstanding.
(6)Regulations may extend the period specified in subsection (2)(b) in prescribed circumstances.
(7)For the purposes of subsection (1) a crystallisation event occurs in relation to a member's pension credit rights to benefits in a category when—
(a)payment of a pension in respect of any of the benefits has begun,
(b)in the case of money purchase benefits, sums or assets held for the purpose of providing any of the benefits are designated as available for the payment of drawdown pension (as defined by paragraph 4 of Schedule 28 to the Finance Act 2004), or
(c)in the case of a personal pension scheme, sums or assets held for the purpose of providing any of the benefits are applied for purchasing an annuity or insurance policy.]]
Textual Amendments
F2S. 101G substituted (3.3.2015 for specified purposes) by Pension Schemes Act 2015 (c. 8), s. 89(1)(b)(3)(b), Sch. 4 para. 16 (with s. 87)